Guideline Value for Bharath Avenue Phase I

Bharath Avenue Phase I guideline value

The current guideline value of Bharath Avenue Phase I is Rs 880 per sq.ft. This property is located in Manimangalam A village under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Bharath Avenue Phase I has changed

The guideline value for Bharath Avenue Phase I has seen several revisions over the years. In the 2017 revision, the value was Rs 536 per sq.ft, which increased to Rs 800 per sq.ft in the 2023 revision. The latest revision in 2024 has set the guideline value at Rs 880 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The changes between the revisions highlight a significant increase of 49% from 2017 to 2023, followed by the aforementioned 10% increase in 2024.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO with 2024 guideline values ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value is Rs 880 per sq.ft, which aligns with the current value of Bharath Avenue Phase I.

• Bharath Avenue: Rs 880 per sq.ft (2024)
• Bharathi Nagar: Rs 880 per sq.ft (2024)
• Bilal Nagar: Rs 770 per sq.ft (2024)
• Blossom's GREEN AGATE: Rs 960 per sq.ft (2024)
• Bound Street: Rs 880 per sq.ft (2024)
• Balaji Garden: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Bharath Avenue Phase I

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bharath Avenue Phase I?

The Sub Registrar Office that covers Bharath Avenue Phase I is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Manimangalam A

The guideline value is a crucial factor during the registration process of property transactions in Manimangalam A. It serves as a benchmark to calculate the stamp duty and registration fees, ensuring that these costs are applied fairly based on the property's assessed value.

When buying or selling property, the guideline value helps determine the financial obligations associated with the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bharath Avenue Phase I?

The current guideline value of Bharath Avenue Phase I is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification of Bharath Avenue Phase I?

Bharath Avenue Phase I is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Bharath Avenue Phase I?

The registration office for Bharath Avenue Phase I is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Bharath Avenue Phase I?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 61,600.